Regardless if I'm in the passenger seat of VS3, my friend's clothes and items all completely vanish so that he is sitting in his underwear beside me. He says his clothes are still there on his screen.
He says that my clothes also disappear on his screen, but when I look down at myself, the clothes are still on my character.
All clothing/items are restored upon exiting the vehicle.
Happens randomly and fixes itself briefly, before clothes vanish again.